Guideline Value for KARTHIKEYAN NAGAR - Veerapagu Street

KARTHIKEYAN NAGAR - Veerapagu Street guideline value

The current guideline value for KARTHIKEYAN NAGAR - Veerapagu Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of KARTHIKEYAN NAGAR - Veerapagu Street has changed

The guideline value for KARTHIKEYAN NAGAR - Veerapagu Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 283 per sq.ft. In 2003, it increased to Rs 310 per sq.ft, marking a change of +10%. The 2007 revision saw a significant jump to Rs 500 per sq.ft, which was an increase of +61%. In 2012, the value rose to Rs 3,000 per sq.ft, reflecting a substantial increase of +500%. However, the 2017 revision brought the value down to Rs 2,010 per sq.ft, a decrease of -33%. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 3,300 per sq.ft, resulting in a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +1066%. There are no figures available for any other revisions for this street in the register.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing KARTHIKEYAN NAGAR - Veerapagu Street above this median.

• KARTHIKEYAN NAGAR - Variyar Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Vetri Vinayagar Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Valli Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Suriya Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Puthukoil Street: Rs 3,300 per sq.ft (2024)
• KARTHIKEYAN NAGAR - Puthukoil 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KARTHIKEYAN NAGAR - Veerapagu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers KARTHIKEYAN NAGAR - Veerapagu Street?

The Sub Registrar Office that covers KARTHIKEYAN NAGAR - Veerapagu Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Maduravoyal

The guideline value plays a crucial role during property registration in Maduravoyal. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid. It is essential to ensure that the transaction adheres to the guideline values set by the Registration Department.

Additionally, the guideline value helps in determining the official value of the property for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for KARTHIKEYAN NAGAR - Veerapagu Street?

The current guideline value for KARTHIKEYAN NAGAR - Veerapagu Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 283 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of +1066%.

What is the land classification for this street?

The land classification for KARTHIKEYAN NAGAR - Veerapagu Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers KARTHIKEYAN NAGAR - Veerapagu Street.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 33,00,000, leading to specific duty and fee amounts.